DFX Intelligence
Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
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BDC portfolio
S•••• S••••• L•••••• P•••••••
BDCnon-tradedCIK 1925309file 814-01543DALLAS, TXmanaged by S•••• S••••• L•••••• P••••••• A•••••••• L••
Fair value
$8.9B
as of Jun 30, 2026
Principal held
n/a
debt pieces, the filer's figure
Cost
$8.6B
104c on cost
Unfunded
n/a
commitments not yet drawn
Positions
125
83 borrowers
First lien
97%
98% debt by fair value
Quarters on the tape
15
since Dec 31, 2022
Facilities held
104
5 sponsors financed
Portfolio through time
Fair value by quarter end$8.9B as of Jun 30, 2026
Mar 31, 2022$7.8M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $8.9B | 83 | 104c | 19 | 609 bp |
| Mar 31, 2026 | $8.8B | 83 | 103c | 18 | 612 bp |
| Dec 31, 2025 | $8.5B | 82 | 105c | 19 | 616 bp |
| Sep 30, 2025 | $8.0B | 72 | 107c | 18 | 620 bp |
| Jun 30, 2025 | $7.7B | 73 | 107c | 22 | 653 bp |
| Mar 31, 2025 | $29B | 71 | 104c | 23 | 630 bp |
| Dec 31, 2024 | $30B | 70 | 104c | 26 | 652 bp |
| Sep 30, 2024 | $26B | 72 | 104c | 20 | 675 bp |
| Jun 30, 2024 | $20B | 58 | 104c | 8 | 687 bp |
| Mar 31, 2024 | $17B | 48 | 102c | 7 | 716 bp |
| Dec 31, 2023 | $14B | 41 | 102c | 7 | 721 bp |
| Sep 30, 2023 | $8.0B | 30 | 102c | 4 | 715 bp |
| Jun 30, 2023 | $6.7B | 23 | 101c | 3 | n/a |
| Mar 31, 2023 | $3.3B | 16 | 102c | 1 | n/a |
| Dec 31, 2022 | $3.0B | 12 | 100c | 0 | 689 bp |
| Mar 31, 2022 | $7.8M | 0 | n/a | 0 | n/a |
Each quarter end is the schedule as filed for that instant; a restated year end is taken from the latest filing that carries it.
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
Counted at BDC level here; the adviser page counts across every BDC it manages. A sponsor named by Form D signer consensus is an inference.
What changed
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Spread increasedJun 30, 2026
- PIK interest appearsJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
Largest facilities held, with co-lenders
- A••••••• I•• first lien revolver3 BDCs hold it · matures Nov 1, 2028n/a 102c
- P•••• F• I•• first lien term loan1 BDC hold it · matures Oct 1, 2029n/a 110c
- L••• B•••• first lien term loan1 BDC hold it · matures Jul 1, 2031n/a 101c
- T••••••••• C••• L•• first lien term loan15 BDCs hold it · matures Feb 13, 2032n/a 100c
- B••• I•• first lien term loan2 BDCs hold it · matures Jul 1, 2029n/a 102c
- V••••••• C••••••• R•••••••• I•• first lien revolver1 BDC hold it · matures Sep 1, 2031 · G•• C•••••• M••••••••• L••••••n/a 102c
- M•••••••• I•• first lien term loan13 BDCs hold it · matures Mar 31, 2033 · L••• E••• C•••••• M••••••••• L••n/a 101c
- R••• A••••••••• L•• second lien term loan1 BDC hold it · matures Jan 1, 2031n/a 102c
- B•••••• S••• P•••••• L•• first lien term loan9 BDCs hold it · matures Aug 31, 2030n/a 101c
- S•••••• A••••••••• L•• first lien term loan14 BDCs hold it · matures Oct 1, 2031n/a 97c
- L••• H••••• B•• first lien term loan1 BDC hold it · matures Feb 1, 2029n/a 108c
- I•••••• H••••••• A••••••••• L•• equity1 BDC hold itn/a 125c
Schedule of investments at Jun 30, 2026
125 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| E•••••• B••••• L•• . Healthcare | revolver first lien | n/a | $3.5M 102c | SOFR+550 bp | Nov 1, 2030 |
| R••••••• H••••••• I••. Transportation | warrants equity | n/a | $3.4M 100c | ||
| A••• H•••••• C•••. Hotel, Gaming and Leisure | revolver first lien | n/a | $3.3M 115c | SOFR+500 bp | Dec 1, 2029 |
| V•••••• T••••••••• I••. Financial Services | term loan first lien | n/a | $3.2M 104c | 16.50% PIK 16.50% | Sep 1, 2028 |
| I••••••• S••••••• H•••• X•• B•••• A• | term loan first lien | n/a | $3.0M 106c | EURIBOR+675 bp PIK 3.63% | Dec 1, 2031 |
| V••••••• C••••••• R•••••••• I••. Healthcare | revolver first lien | n/a | $2.0M 102c | SOFR+750 bp | Sep 1, 2031 |
| I••••••• S••••••• B•••••••• H••••••• L••. | equity equity | n/a | $1.6M 100c | ||
| M••••••••• A•• U•••••• H•••••••• I••. | term loan first lien | n/a | $1.6M 44c | SOFR+775 bp PIK 4.75% | Sep 1, 2029 |
| R••••• P••••• I, Inc. Transportation | warrants equity | n/a | $1.4M 100c | ||
| P•••• F• I••. Business Services | term loan first lien | n/a | $1.0M 113c | EURIBOR+625 bp | Oct 1, 2029 |
| P•••• F• I••. Business Services | term loan first lien | n/a | $1.0M 108c | EURIBOR+700 bp | Oct 1, 2029 |
| C••••• (B••••) L•••••• Real Estate | term loan first lien | n/a | $936,000 106c | SONIA+575 bp PIK 2.50% | Aug 1, 2030 |
| E••••• L•• B•••• S••• Chemicals | revolver first lien | n/a | $834,000 106c | SONIA+700 bp | Sep 1, 2028 |
| A••••• B•••• O• Financial Services | term loan first lien | n/a | $831,000 108c | EURIBOR+575 bp | May 1, 2030 |
| S••••• S••••••• Inc. Healthcare | term loan first lien | n/a | $826,000 73c | SOFR+460 bp | Dec 1, 2027 |
| R••••• U• B•••• I• C•••. Healthcare | revolver first lien | n/a | $507,000 104c | SOFR+625 bp | Mar 1, 2029 |
| L••• H••••• B••. Healthcare | revolver first lien | n/a | $363,000 100c | EURIBOR+650 bp | Feb 1, 2029 |
| I••••••• S••••••• S•• T••••••••• H•••••••• L•• | equity equity | n/a | $360,000 148c | ||
| R•••• D••• G••• U••••••••• Retail and Consumer Products | revolver first lien | n/a | $360,000 96c | EURIBOR+650 bp | Jun 1, 2029 |
| S•••• A••••••• G•••. Hotel, Gaming and Leisure | revolver first lien | n/a | $238,000 111c | EURIBOR+725 bp | Apr 1, 2030 |
| I••••••• S••••••• K••••••• I••••••••• H•••••• C•••••• | term loan first lien | n/a | $149,000 88c | SOFR+550 bp | Oct 1, 2031 |
| C••••• (B••••) L•••••• Real Estate | term loan first lien | n/a | $77,000 104c | SONIA+525 bp | Aug 1, 2030 |
| I••••••• S••••••• S•• T••••••••• H•••••••• L•• | equity equity | n/a | $16,000 160c | ||
| M••••••••• A•• U•••••• H•••••••• I••. | term loan second lien | n/a | $10,000 1c | 7.10% PIK 1.25% | Sep 1, 2029 |
| S••••••••• C••••• P••••••• J•• L•• | unstated lien unstated | n/a | n/a |
Page 2 of 2Previous
Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2023 to 2026reported
- Filings listed
- 16reported10-Q and 10-K since 2022
- Latest schedule
- 0001193125-26-335004reported